Many times a penny has only one cent worth, but in some cases, the penny has the most value, it’s worth can be thousands or even millions of dollars. Here we listed the 10 most valuable pennies ever minted in the United States of America. The values of coins are not based on common errors, but these are issued into circulation as is.
This most valuable pennies list is dynamic and based upon the few thousand. So United States coins are seen in our ever-growing database.
Our database presently includes coins from the 1860s to 2024 since we wanted to focus on coins that were easily accessible and might still be in use. This article intends to help coin hunters and collectors find rare and valuable coins. You’ll save a ton of time using this page, which is the result of hundreds or even thousands of hours of thorough coin analysis and research.
Although high-value pennies are generally uncommon, many strange factors could make them rare and valuable objects. Every penny on this list has a special quality. The value of their stories is almost equal to that of the pennies.
What Makes a Penny Valuable?
There are some reasons which makes a penny valuable which are:
Minting errors In Coins
Minting errors in coins like missing letters or a double die, always make a penny more valuable than regular pennies. A double die, the coin is accidentally struck twice, making a blurred coin, double-letter effect in coin.
Low mintage numbers in Coins
Low mintage numbers in pennies from years or struck in error are usually more valuable. For example, the 1922 Lincoln penny is more valuable because only one type was made in this year.
Unique design
Unique designs make pennies valuable. For example, the Flying Eagle Cent is considered a numismatic gem because of its unique design and short-lived mintage.
How to Identify Valuable Pennies
To identify a valuable penny, you can look for:
Errors: Coins with mistakes, like a double die, missing letters, or unusual strikes, can be worth more than regular pennies.Â
Year: Pennies with low mintage numbers from years or known to be scarce can be valuable. For example, the 1950 Lincoln penny is highly demanded by collectors because of scarcity of the coins.Â
Condition: Some pennies are in exceptional condition like the 1872 Indian Head Penny, are more valuable pennies and always with their original bright red-copper color.Â
Material: Authentic steel pennies will stick to magnets, while copper and zinc-coated fakes won’t.
History of the Penny
The history of the U.S. penny spans over two centuries and reflects significant changes in American culture and values. Authorized by the Secretary of the Treasury under statutory law (31 U.S.C. §5112), the U.S. Mint issues circulating coins in six denominations, including the penny, nickel, dime, quarter, half dollar, and dollar. The penny, as we know it today, has evolved considerably from its original design, with changes reflecting shifts in artistic trends and historical value.
Early Penny Designs (1793-1856)
The first U.S. penny was minted in 1793, just a year after the U.S. Mint was established. Its initial design featured a representation of Liberty on the obverse side—portrayed as a woman with flowing hair. The flowing hair was meant to symbolize freedom, highlighting the nation’s commitment to liberty as a core value. The reverse side displayed 15 chain links, symbolizing the unity of the 15 states that were part of the Union at the time. This “Chain Cent” design was soon replaced because of criticism that the chain links evoked images of slavery. The modified design featured a wreath on the reverse, representing peace and unity in a more favorable light.
The obverse designs between 1793 and 1856 continued to portray variations of Liberty. Each iteration of Liberty had different stylistic features, with some versions described wearing a cap or with more refined hair styles, aligning with the artistic tastes of each era. These early designs all highlighted the nation’s values of freedom and independence rather than the similarities of famous individuals.
Transition to Symbolic Imagery (1856-1908)
In 1856, the U.S. Mint took a bold step by introducing the “Flying Eagle” cent. This marked the first time an animal, rather than an allegorical figure, appeared on the penny’s obverse. The design featured an eagle in flight, symbolizing the strength and freedom of the United States. However, because of difficulties with striking the coin’s design, the Flying Eagle cent was only issued for a few years.
The Flying Eagle design was followed by the “Indian Head” penny in 1859, which remained in circulation until 1908. Contrary to popular belief, the Indian Head cent did not depict a Native American. Instead, it featured Liberty wearing a headdress traditionally associated with Native American culture. This design choice reflected the era’s romanticized view of Native American imagery, aligning with the period’s artistic trends.
Honoring Abraham Lincoln (1909-Present)
A major shift in penny design occurred in 1909, marking the centennial of President Abraham Lincoln’s birth. For the first time, the obverse design featured the likeness of a U.S. President rather than an allegorical figure. Lincoln was chosen due to his pivotal role in American history, including leading the country during the Civil War and championing the abolition of slavery. The 1909 design, created by sculptor Victor David Brenner, introduced the now-iconic profile of Lincoln facing right.
The reverse design of the 1909 penny featured two stalks of wheat surrounding the inscriptions “One Cent” and “United States of America,” giving it the name “Wheat Penny.” This design remained in use until 1958. In 1959, to commemorate the 150th anniversary of Lincoln’s birth, the reverse was changed to feature the Lincoln Memorial, which symbolized Lincoln’s enduring legacy in American history. This design continued until 2008.
Modern Redesigns and Special Editions (2009-Present)
In 2009, the U.S. Mint celebrated Lincoln’s 200th birthday with a series of four commemorative penny designs. Each design depicted a different phase of Lincoln’s life, including his birth and early childhood in Kentucky, his formative years in Indiana, his professional life in Illinois, and his presidency in Washington, D.C. These special editions were part of the Lincoln Bicentennial One Cent Program.
Following this, the reverse was updated in 2010 to feature a new design: a union shield with 13 vertical stripes and a horizontal bar bearing the inscription “E Pluribus Unum,” representing the original 13 states united under a single federal government. The shield is a traditional symbol of strength and unity, reinforcing the themes present throughout the history of the penny.
The Penny Today
The penny remains a staple of American currency, despite ongoing debates about its continued production due to cost concerns. Over the years, its composition has also changed from 100% copper to a mostly zinc core with a thin copper coating, reflecting adjustments in material costs and minting practices.
Throughout its history, the penny has evolved from symbolic representations of liberty to honoring historical figures who embody American ideals. It serves as a small yet enduring piece of the nation’s identity, with each design change reflecting the values and historical context of its time.
List of Top 10 Most Valuable Pennies
- 1864 Indian Head Penny-“L”
- 1872 Indian Head Penny
- 1877 Indian Head Penny
- 1909-S VDB Lincoln Penny
- 1914-D Lincoln Penny
- 1914-S Lincoln Penny
- 1926-S Lincoln Penny
- 1943 Lincoln Cent
- 1944-D Lincoln Penny
- 1969-S Lincoln Penny–Doubled Die Obverse
1. 1864 Indian Head Penny-“L” Certified by PCGS (Professional Coin Grading Service)
Worth: $161,000.
Sold: October 2011; Signature Auction, Ribbon Heritage Auctions, Pittsburgh, PA
The American economy was in poor condition in 1864, and the Civil War was still running. As a way to keep their wealth, many people hoarded gold, silver, and copper coins. Because of this, it was challenging for the federal government to get the metal essential to make coins.
James B. Longacre, a mint engraver, created the Indian Head cent, which originally went on sale in 1859. An “L” was added to the tail of the ribbon in the military bonnet on Lady Liberty’s head starting around halfway through the mintage of 1864 indian head pennies. Only 5 million of these coins are thought to have been made, and very few of them have survived in uncirculated condition.
2. 1872 Indian Head Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $126,500
Grade: Red PCGS MS-67
Sold: August 2007; Milwaukee, WI, Heritage Auctions, ANA Auction of Signature Coins
Although they are rare, 1872 Indian Head pennies can be found easily in circulated grades at any coin show or dealer. A little over 4 million of them were made. However, few people were able to collect coins for their collections due to the period’s financial difficulties, such as the economic depression that preceded the “Panic of 1873”. Consequently, almost all of these pennies were utilized.
This coin’s amazing condition—which mixes an almost perfect coin with a crisp striking from brand-new coin dies—makes it extremely rare. It’s also been preserved in good enough condition to keep its original bright reddish-copper color.
3. 1877 Indian Head Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $149,500
Grade: PCGS MS-66 Red Sold: Heritage Auctions, Milwaukee, WI, ANA, Sold: August 2007 Auction of Signature Coins
Among all the Indian Head pennies that have ever been made, 1877 Indian Head Penny has the rarest date. The slump in the economy that started in 1873 continued fiercely into 1877. As a result, families found it difficult to make ends meet, and demand for US currency was at an all-time low. Because of this, most Americans found it hard to save even a pennies for a coin collection.
Although having a lower mintage, more 1909-S Indian Head Pennies were preserved in uncirculated form. Given the dire economic circumstances of 1877, possessing an uncirculated Indian Head Penny is extremely rare. It is even more amazing if you can find one in its original copper-red color.
4. 1909-S VDB Lincoln Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $117,500
Grade: PCGS MS-67 Red Signature Auction for US Coins at the National Money Show
Sold: In March 2014 at Heritage Auctions in Atlanta, Georgia, ANA;
The Lincoln cent took the place of the Indian Head penny in 1909 at the US Mint. The design of 1909 S VDB Lincoln Penny was made by Victor David Brenner with the support of President Theodore Roosevelt. Brenner added his initials V.D.B. at the bottom, in between the two wheat stalks, on the reverse of the coin. Coin designers had only used their last name first initial up until the present day. It was rare for a coin’s design to include all three initials.
These pennies were made in slightly less than half a million pieces before the Treasury Department required that the initials be taken off. Coin collectors got involved with this overnight, and coin collectors today refer to this penny as the “Holy Grail” of Lincoln pennies.
5. 1914-D Lincoln Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $152,750
Grade: Red PCGS MS-66+
Sold: August 2017; Denver, CO, ANA Heritage Auctions, Inc. United States Coins Signed Auction
In the 1930s and 1940s, “penny boards,” which individuals used for collecting money from circulation, were widely utilized and this coin had a lot of circulation. Consequently, the 1941-D Lincoln pennies are mostly in circulating condition. Uncirculated examples in their original red mint state are highly valuable and rare.
6. 1914-S Lincoln Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $105,800
Grade: PCGS MS-66 Red
Sold: In August 2006; Bowers & Merena, Anne Kate Collection Part II
It is by no means rare to find a 1914 Lincoln cent. Consider that the San Francisco Mint made about 4 million of them. This specific coin is particularly valuable due to its being over a century old, it is in perfect shape. The coin’s original bright red-orange copper color is still present, and there is no visible bag mark on its surface.
This coin was set aside by a collector in San Francisco in 1914 before it could have faded and tattered while in use if it were to survive for this long in such perfect shape. The coin’s correct place to be stored to keep its color was another thing the collector took good care of. Rare and genuinely valued coins in this condition are difficult to come by.
7. 1926-S Lincoln Penny Certified by PCGS (Professional Coin Grading Service)
Worth: $149,500
Grade: Red PCGS MS-65
Sold: Heritage Auctions, Orlando, Florida, January 2006, enjoyable Auction of Signatures
This coin doesn’t have anything special about it at first glance. This coin is unique due to the combination of the date and mintmark, even though it is uncirculated and still has its original copper-red color from the day it was produced.
This coin’s low mintage is one of the factors that contribute to its significant value. The mintage of just nine other Lincoln wheat pennies is lower. Furthermore, the majority of coin collectors got their collection of coins from circulation between the 1930s and 1940s, making it easy to find a circulated sample of a 1926 Lincoln penny. However, uncirculated 1926-S Lincoln pennies maintaining their natural copper-red hue are hard to get by.
8. 1943 Lincoln Cent on Bronze Alloy, Certified by PCGS (Professional Coin Grading Service)
Worth: $1,7 million
Grade: Red PCGS MS-63
Sold: January 2010; Americana Auction, Stack’s Bowers Galleries,
This 1943 Lincoln penny was made using a bronze alloy planchet, even though it was meant to be stuck on a zinc-plated steel planchet. While some believe that mint employees intentionally struck these coins on bronze alloy planchets, it is more likely that a few leftover bronze planchets from the prior year got stuck in a tote or conveyor belt and integrated into the routine striking procedure.
Some 1943 bronze alloy pennies circulated for a while before being grabbed up by a smart coin collector who was determined to remove the valuable Lincoln cent from circulation, as most people do not check the date on every coin they receive in change. This coin’s original copper-red tint and uncirculated condition contribute to its high value.
9. 1944-D Lincoln Penny on a Zinc-Coated Steel Planchet Certified by NGC
Worth: $115, 000
Grade: NGC MS-63
Sold: In August 2007; Milwaukee, WI, Heritage Auctions, ANA Auction of Signature Coins
There is nothing special about a 1944 Lincoln penny made at the Denver, Colorado mint. Over 430 million of them were struck by the US Mint. The fact that this coin was struck on a steel planchet coated in zinc adds to its excellent value. Most of these steel planchets’ use occurred in 1943. But starting in 1944, the US Mint changed to the standard copper planchets following a flurry of complaints.
But somehow, a 1943 steel planchet had to have got into the coining procedure. Coin collectors value this amazing rarity that this error planchet created, and they are ready to pay a hefty price for adding it to their collection.
10. 1969-S Lincoln Penny–Doubled Die Obverse Certified by PCGS (Professional Coin Grading Service)
Worth: $126,500
Grade: Red PCGS MS-64
Sold: Heritage Auctions, Orlando, Florida, January 2008, enjoyable Auction of Signature Coins
When the 1969 Lincoln Penny first came to light in 1970, Coin World published a story about it on the first page of its July 8, 1970 issue. At first, the government started grabbing these coins because they thought they were fake. Before five coins were recognized as authentic, they were taken and destroyed.”
This penny has text on the front and doubles on the date. Low-level magnification clearly shows the doubling, albeit not quite as dramatically as the 1955 doubled die obverse. Although uncirculated coins are very rare, these coins in circulated form are just more valuable.
How do I find out the current market value of my pennies?
Step 1. Identify and Categorize Your Coins
The first step in determine the importance of old coins is to identify and categorize coins with properly. There are 12 types of US coins, The Most common are: Penny, Nickel, Dime, Quarter, Half Dollar, and Silver Dollar. You can check your coin value by entering the year in our Coin Value Checker.
Step 2. Date and Mint Mark Varieties
Assessing old coin values requires close attention to date and mintmark varieties, which can distinguish common coins from rare, valuable pieces. The date indicates the year of minting, providing context about age, scarcity, and historic significance. Collectors often seek key dates with lower mintages that are harder to find in good condition. Value charts list coin prices by date, helping you determine worth.
Mintmarks show which mint produced the coin, adding another rarity layer. Coins of the same date and design may have multiple varieties from different mints. These small mintmark differences can create significant value disparities.
When identifying old coins, examine the date and mintmark carefully to ensure accurate variety attribution, as these details can unlock the maximum value. You can explore all coins with various years and mint marks in our database.
Assess Coin Condition
The condition of a coin is crucial for determining its value. Well-preserved coins with minimal wear are usually more valuable than heavily circulated or damaged ones. Familiarize yourself with coin grading standards and the terminology used by professional grading services. While you don’t need to be an expert, understanding the basics of coin condition assessment helps provide accurate descriptions when researching values. Here are all the free grading guides on all common coin types.
Step 4. Special of Your Coins
When assessing a coin’s worth, rarity is a crucial factor, with scarcity directly impacting its value. The fewer examples available, the more desirable and expensive the coin becomes. Several elements determine a coin’s rarity:
- Mintage Numbers: Mintage refers to the total number of coins struck for a specific date and mint. Coins with low production figures are inherently rare, like the 1909-S V.D.B. Lincoln cent, with only 484,000 minted.
- Varieties and Errors: Design variations or striking errors, such as the 1937-D Buffalo nickel “3-Legged” variety, make coins significantly rarer.
- Historical Significance: Coins linked to key events or figures can see increased value due to their cultural importance.
- Precious Metal Content: For older coins like Morgan and Peace silver dollars, lower silver mintages and the bullion value of the metal boost rarity.
When evaluating vintage coins, consider mintages, design varieties, historical context, and metal content to find the most valuable numismatic treasures.
Also Read – Top 15 Most Valuable Modern Quarters
Conclusion:
Many times a penny has only one cent worth, but in some cases, the penny has the most value, it’s worth can be thousands or even millions of dollars. This article intends to help coin hunters and collectors find rare and valuable coins. You’ll save a ton of time using this article, which is the result of hundreds or even thousands of hours of thorough coin analysis and research.